{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/22.1-175.5.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/22.1-175.5.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/22.1-175.5.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/22.1-175.5.html"}],"law_id":80615,"edition_id":1,"section_id":80615,"structure_id":13682,"section_number":"22.1-175.5","catch_line":"Capital School Projects Fund","history":"1999, cc. 354, 391.","full_text":"A\n\nThe governing body of any locality which is awarded a grant pursuant to this chapter may authorize the local treasurer or fiscal officer, by ordinance or resolution, to create a separate escrow account upon the books of the locality, as described in this section. Upon the adoption of such ordinance or resolution, the treasurer of the locality shall place such grant awards into this account.B\n\nThe escrow account shall be known as the “County\/City\/Town of _______________ Capital School Projects Fund.” All principal deposited to such fund, together with all income from or attributable to the fund, shall be used solely for (i) construction, additions, renovations, including retrofitting and enlarging public school buildings, infrastructure, including technology infrastructure, and site acquisition for public school buildings and facilities or (ii) debt service payments, or a portion thereof, for any such projects completed in the previous ten years if so designated. No disbursement from the fund may be made except upon specific appropriation by the governing body in accordance with applicable law. If a locality establishes such a fund and designates any portion of the funds deposited therein to pay debt service for (i) any general obligation of the locality held by the Virginia Public School Authority or (ii) any Literary Fund loan, the locality shall obtain an opinion of bond counsel that designation of funds to pay debt service on obligations described in clauses (i) and (ii) hereof does not adversely impact the tax-exempt status of such obligations.C\n\nAll grant awards deposited in the fund, including all income from or attributable to such fund, shall be deemed public funds of the locality and shall be subject to all limitations upon deposit and investment provided by general law, including, but not limited to, the Virginia Security for Public Deposits Act (§ 2.2-4400 et seq.). Income, dividends, distributions, and grants accruing to the fund shall be retained in such fund and shall be expended only in accordance with the terms of this section.D\n\nNothing in this section shall be deemed or construed to authorize a school board or school division to receive, hold or invest funds in its own name, nor to expend funds in the absence of a specific appropriation by the governing body of the locality in accordance with applicable law.","order_by":null,"text":{"0":{"id":288944,"text":"The governing body of any locality which is awarded a grant pursuant to this chapter may authorize the local treasurer or fiscal officer, by ordinance or resolution, to create a separate escrow account upon the books of the locality, as described in this section. Upon the adoption of such ordinance or resolution, the treasurer of the locality shall place such grant awards into this account.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":288945,"text":"The escrow account shall be known as the “County\/City\/Town of _______________ Capital School Projects Fund.” All principal deposited to such fund, together with all income from or attributable to the fund, shall be used solely for (i) construction, additions, renovations, including retrofitting and enlarging public school buildings, infrastructure, including technology infrastructure, and site acquisition for public school buildings and facilities or (ii) debt service payments, or a portion thereof, for any such projects completed in the previous ten years if so designated. No disbursement from the fund may be made except upon specific appropriation by the governing body in accordance with applicable law. If a locality establishes such a fund and designates any portion of the funds deposited therein to pay debt service for (i) any general obligation of the locality held by the Virginia Public School Authority or (ii) any Literary Fund loan, the locality shall obtain an opinion of bond counsel that designation of funds to pay debt service on obligations described in clauses (i) and (ii) hereof does not adversely impact the tax-exempt status of such obligations.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":288946,"text":"All grant awards deposited in the fund, including all income from or attributable to such fund, shall be deemed public funds of the locality and shall be subject to all limitations upon deposit and investment provided by general law, including, but not limited to, the Virginia Security for Public Deposits Act (§ 2.2-4400 et seq.). Income, dividends, distributions, and grants accruing to the fund shall be retained in such fund and shall be expended only in accordance with the terms of this section.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"3":{"id":288947,"text":"Nothing in this section shall be deemed or construed to authorize a school board or school division to receive, hold or invest funds in its own name, nor to expend funds in the absence of a specific appropriation by the governing body of the locality in accordance with applicable law.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C"}},"ancestry":[{"id":13682,"edition_id":1,"name":"Virginia Public School Construction Grants Program and Fund","identifier":"11.1","label":"chapter","depth":2,"order_by":1,"parent_id":12823,"metadata":{},"date_created":"2026-06-26 03:45:33","date_modified":"2026-06-26 03:45:33","permalink":{"id":181223,"object_type":"structure","relational_id":13682,"identifier":"11.1","token":"22.1\/11.1","url":"\/22.1\/11.1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12823,"edition_id":1,"name":"Education","identifier":"22.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:55","date_modified":"2026-06-26 03:43:55","permalink":{"id":180949,"object_type":"structure","relational_id":12823,"identifier":"22.1","token":"22.1","url":"\/22.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":76514,"structure_id":13682,"section_number":"22.1-175.1","catch_line":"Virginia Public School Construction Grants Program established","url":"\/22.1-175.1\/","token":"22.1\/11.1\/22.1-175.1","metadata":false},{"id":54661,"structure_id":13682,"section_number":"22.1-175.2","catch_line":"Virginia Public School Construction Grants Fund created","url":"\/22.1-175.2\/","token":"22.1\/11.1\/22.1-175.2","metadata":false},{"id":62647,"structure_id":13682,"section_number":"22.1-175.3","catch_line":"Board to issue guidelines","url":"\/22.1-175.3\/","token":"22.1\/11.1\/22.1-175.3","metadata":false},{"id":71002,"structure_id":13682,"section_number":"22.1-175.4","catch_line":"Application for grants","url":"\/22.1-175.4\/","token":"22.1\/11.1\/22.1-175.4","metadata":false},{"id":80615,"structure_id":13682,"section_number":"22.1-175.5","catch_line":"Capital School Projects Fund","url":"\/22.1-175.5\/","token":"22.1\/11.1\/22.1-175.5","metadata":false}],"previous_section":{"id":71002,"structure_id":13682,"section_number":"22.1-175.4","catch_line":"Application for grants","url":"\/22.1-175.4\/","token":"22.1\/11.1\/22.1-175.4","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/22.1-175.5\/","history_text":"

This law was first created in 1999. The record of its establishment is cataloged in chapters 354<\/a> and 391<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year.<\/p>","references":[{"id":55364,"section_number":"22.1-100.1","catch_line":"Lottery proceeds nonrecurring costs escrow accounts","order_by":null,"url":"\/22.1-100.1\/"},{"id":76514,"section_number":"22.1-175.1","catch_line":"Virginia Public School Construction Grants Program established","order_by":null,"url":"\/22.1-175.1\/"},{"id":62647,"section_number":"22.1-175.3","catch_line":"Board to issue guidelines","order_by":null,"url":"\/22.1-175.3\/"}],"refers_to":[{"id":63923,"section_number":"2.2-4400","catch_line":"Short title; declaration of intent; applicability","order_by":null,"url":"\/2.2-4400\/"}],"permalink":{"id":181241,"object_type":"law","relational_id":80615,"identifier":"22.1-175.5","token":"22.1\/11.1\/22.1-175.5","url":"\/22.1-175.5\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/22.1-175.5\/","token":"22.1\/11.1\/22.1-175.5","dublin_core":{"Title":"Capital School Projects Fund","Type":"Text","Format":"text\/html","Identifier":"\u00a7 22.1-175.5","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> The governing body<\/span> of any locality which is awarded a grant pursuant to this chapter may authorize the local treasurer or fiscal officer, by ordinance<\/span> or resolution, to create a separate escrow account upon the books of the locality, as described in this section. Upon the adoption of such ordinance<\/span> or resolution, the treasurer of the locality shall place such grant awards into this account. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> The escrow account shall be known as the “County\/City\/Town of _______________ Capital School Projects Fund.” All principal deposited to such fund, together with all income from or attributable to the fund, shall be used solely for (i) construction, additions, renovations, including retrofitting and enlarging public school buildings, infrastructure, including technology infrastructure, and site acquisition for public school buildings and facilities or (ii) debt service payments, or a portion thereof, for any such projects completed in the previous ten years if so designated. No disbursement from the fund may be made except upon specific appropriation by the governing body<\/span> in accordance with applicable law<\/span>. If a locality establishes such a fund and designates any portion of the funds deposited therein to pay debt service for (i) any general obligation of the locality held by the Virginia Public School Authority or (ii) any Literary Fund loan, the locality shall obtain an opinion<\/span> of bond<\/span> counsel<\/span> that designation of funds to pay debt service on obligations described in clauses (i) and (ii) hereof does not adversely impact the tax-exempt status of such obligations. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> All grant awards deposited in the fund, including all income from or attributable to such fund, shall be deemed public funds of the locality and shall be subject to all limitations upon deposit and investment provided by general law<\/span>, including, but not limited to, the Virginia Security for Public Deposits Act (§ 2.2-4400<\/a> et seq.). Income, dividends, distributions, and grants accruing to the fund shall be retained in such fund and shall be expended only in accordance with the terms of this section. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> Nothing in this section shall be deemed or construed to authorize a school board<\/span> or school division to receive, hold or invest funds in its own name, nor to expend funds in the absence of a specific appropriation by the governing body<\/span> of the locality in accordance with applicable law<\/span>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nCAPITAL SCHOOL PROJECTS FUND (\u00a7 22.1-175.5)\n\nA. The governing body of any locality which is awarded a grant pursuant to this\nchapter may authorize the local treasurer or fiscal officer, by ordinance or\nresolution, to create a separate escrow account upon the books of the locality,\nas described in this section. Upon the adoption of such ordinance or resolution,\nthe treasurer of the locality shall place such grant awards into this account.\n\nB. The escrow account shall be known as the “County\/City\/Town of\n_______________ Capital School Projects Fund.” All principal deposited to\nsuch fund, together with all income from or attributable to the fund, shall be\nused solely for (i) construction, additions, renovations, including retrofitting\nand enlarging public school buildings, infrastructure, including technology\ninfrastructure, and site acquisition for public school buildings and facilities\nor (ii) debt service payments, or a portion thereof, for any such projects\ncompleted in the previous ten years if so designated. No disbursement from the\nfund may be made except upon specific appropriation by the governing body in\naccordance with applicable law. If a locality establishes such a fund and\ndesignates any portion of the funds deposited therein to pay debt service for\n(i) any general obligation of the locality held by the Virginia Public School\nAuthority or (ii) any Literary Fund loan, the locality shall obtain an opinion\nof bond counsel that designation of funds to pay debt service on obligations\ndescribed in clauses (i) and (ii) hereof does not adversely impact the\ntax-exempt status of such obligations.\n\nC. All grant awards deposited in the fund, including all income from or\nattributable to such fund, shall be deemed public funds of the locality and\nshall be subject to all limitations upon deposit and investment provided by\ngeneral law, including, but not limited to, the Virginia Security for Public\nDeposits Act (§ 2.2-4400 et seq.). Income, dividends, distributions, and\ngrants accruing to the fund shall be retained in such fund and shall be expended\nonly in accordance with the terms of this section.\n\nD. Nothing in this section shall be deemed or construed to authorize a school\nboard or school division to receive, hold or invest funds in its own name, nor\nto expend funds in the absence of a specific appropriation by the governing body\nof the locality in accordance with applicable law.\n\nHISTORY: 1999, cc. 354, 391.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}